Belgian expat working in Sofia, Bulgaria.

8 Replies

I am a newbie in real estate. I've noticed opportunities for real estate investment since i am living in Sofia, Bulgaria and the surrounding countries like Greece. I have no experience in real estate so i am here to learn and grab advice which will help me getting forward. 

Hi

If you are planning to invest in Greece would strongly recommend to find a good and reliable accountant for your tax compliance (unfortunately not always easy to find) and a lawyer to handle the legal aspect of the purchase. You will need to have these contacts in place before you go ahead looking for a property.

Other than that there are a wealth of good deals since house and flat prices are extremely low at the moment and will continue to drop for the next 2 to 3 years at least. You will need to do your homework as unfortunately real estate agents in Greece are not really trained for investment real estate deals. The Greek market due to the current financial climate is more suited for a buy to hold purchase rather than a buy and sell for profit.

Also if you are able to buy cash majority of sellers are more than happy to drop the asking price significantly for a quick sale.

Hope this helps! Best of luck!

Originally posted by @Konstantina Mazaraki:

Hi

If you are planning to invest in Greece would strongly recommend to find a good and reliable accountant for your tax compliance (unfortunately not always easy to find) and a lawyer to handle the legal aspect of the purchase. You will need to have these contacts in place before you go ahead looking for a property.

Other than that there are a wealth of good deals since house and flat prices are extremely low at the moment and will continue to drop for the next 2 to 3 years at least. You will need to do your homework as unfortunately real estate agents in Greece are not really trained for investment real estate deals. The Greek market due to the current financial climate is more suited for a buy to hold purchase rather than a buy and sell for profit.

Also if you are able to buy cash majority of sellers are more than happy to drop the asking price significantly for a quick sale.

Hope this helps! Best of luck!


this is valuable advice, thanks for sharing. Since i studied the Bulgarian market, i noticed that in the neighbouring countries the system is quit similar. Both countries are more suitable for a buy to hold, must say that the the prices in Sofia increased significantly over the past 6 months. 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you